The current gold price stands at $3395.06, indicating a minor decline of 0.05% in recent trading. The recent trend shows a pattern resembling an ascending triangle, indicating a potential bullish breakout as prices form higher lows with resistance at $3400. Analysts recommend a 'Buy' stance given the strength in global demand for gold as a safe haven, influenced by ongoing economic uncertainties. The projected target price for gold over the next 12 months is anticipated to be around $3600, contingent on inflationary pressures and geopolitical tensions. Key strengths include strong market positioning and investor interest. However, potential risks to monitor include fluctuations in interest rates and changes in central bank policies.
Overall, the analysis suggests a well-positioned outlook for gold as an investment.
Visible Pattern:Ascending Triangle
Trend: Bullish
Resistance : 3400
Support: 3380
Overall, the analysis suggests a well-positioned outlook for gold as an investment.
Visible Pattern:Ascending Triangle
Trend: Bullish
Resistance : 3400
Support: 3380
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⭕️ Disclaimer: Not Financial advice.
For Education Purposes only
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🔵 Free Telegram
t.me/FarazxauusdGoldT
⭕️ Disclaimer: Not Financial advice.
For Education Purposes only
t.me/FarazxauusdGoldT
⭕️ Disclaimer: Not Financial advice.
For Education Purposes only
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.